Data & Analytics

Key forecasting metrics have remained essentially flat for five years, but one emerging technology offers retailers the chance for improvement. According to the sixth annual Forecasting Benchmark Study from supply chain software provider Terra Technology, companies using sensing demand systems consistently double overall forecast value-add and reduce error by 37%.

October will be over in a flash, and with it, all eyes will be on the holiday season, which is measured from November 1 through December 31.

The 2015 retail calendar has several distinctions, as we saw Memorial Day fall on the earliest possible date and Labor Day on the latest possible date. This holiday season, there are 28 days between Thanksgiving (not counting the actual day) and Christmas, which is an average amount for the period separating the two holidays.

In recent years, the omnichannel world has turned retail on its ear. But after all the innovation, retailers have spoken: the store is back - and employees are going to be a key driver to its success. Retailers are trying to provide services in stores that consumers just can't get online, and for that, store employees become a clear differentiator.

But do retailers have the workforce they need? And what tools does that workforce need to be successful?

Hudson's Bay Co. has appointed Dion Rooney to executive VP, HBC digital. Rooney will be responsible for leading the HBC digital business and delivering online experience across all banners.

Rooney brings more than 30 years of senior experience in the IT field. Prior to joining HBC, Rooney served as CIO of Toys “R” Us, where he was instrumental in building a global state-of-the-art omni-channel offering. He has been developing e-commerce strategies and building digital businesses for more than a decade.

Rite Aid on Thursday reported $7.7 billion in revenue for its fiscal second quarter ended Aug. 29, representing an increase of 17.5%. Retail pharmacy segment revenues were $6.6 billion and increased 1.9%, primarily as a result of an increase in same-store sales. And pharmacy services segment revenues were $1.1 billion from the date of the acquisition of EnvisionRx — June 24 — through the end of the quarter. 

The Home Depot is building physical infrastructure to support online operations. The home improvement giant is officially opening the third of three facilities designed to support its online business, IT transformation and overall interconnected retail strategy.

The new 1.6 million-sq.-ft. facility is located in Troy Township, Ohioand is expected to eventually employ 500 workers. Home Depot is opening the center as online sales continue to grow and currently account for 5% of total revenues.

Shortly after expanding its e-commerce partnership with Facebook, the cloud-based multichannel Shopify platform is teaming up with another online giant. Shopify has been selected as the preferred migration provider for Amazon Webstore, making it easier for online businesses to sell on both Amazon and other channels using Shopify.

Target Corp., which has operated a proprietary innovation lab in San Francisco since 2013, is eyeing a more outward-focused approach to innovation. Target is partnering with startup accelerator Techstars to open a new retail accelerator program in its hometown of Minneapolis.